Bill Gross: I Thought I Knew El-Erian Better

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April 10 (Bloomberg) -- Bill Gross, founder and chief investment officer at Pimco, offers insight into the departure of former CEO Mohamed El-Erian on Bloomberg Television’s “Bottom Line.”

Mohamed has not spoken up, and that's a mystery to us, and an extreme disappointment.

We move on.

We have a new structure and new deputy cio structure that we think is even better than what we had in the past.

Any sense of why he did not speak up?

Does this get at some of the issues that you guys were dealing with internally?

No, i don't think so.

It's a mystery to us.

He simply said he was not the man to take the company forward.

He constantly repeated that without explaining it.

He did not say that he did not have the qualifications.

He did not say he had lost interest.

He simply said he was not the person.

That's a mystery.

The additional mystery is the fact that he has not spoken up.

I would say, come on, mohamed.

Tell us why.

The furor over the past few months really are quite exaggerated.

It's not indicative of what this company is, what this company was, and what this company will be in terms of our future structure.

But how does that make you feel, knowing this is a guy you work alongside and was a trusted partner, your co-cio, the idea that he leaves and doesn't say anything?

Quite an extremely disappointed.

I thought i knew him better.

Pimco and the executive committee hired him twice.

We hired him in the late 1990's. he was working with various markets.

We hired him again to do the co-cio and ceo about six or seven years ago.

We hired him to be my successor.

Does that make me mad?

Yes, that makes me mad.

Does that make me disillusioned?

Not really.

We have a future that is probably now better than what we had in the past.

We have an investment committee that is stocked with market experts, whether it is equity, corporate bonds, diversified income.

These are people with morningstar manager of the year awards.

This is a different type of company that is inclusive, that

This text has been automatically generated. It may not be 100% accurate.

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